No, There Is Not A Housing Slump in the Dothan Market
July 25th, 2007 - Categories: Dothan area Real Estate Market information, Real Estate News
By: Charles Woodall
http://www.dothanhomesearch.com
National home sales numbers are due out today, and the media is back on its doom and gloom song. This morning, one channel after another was harping on how the real estate market has tanked, debating each other on whether the bottom has been reached yet.
Let me let the fine folks of Dothan and the surrounding area in on a secret. When you look at the big picture, THERE IS NO HOUSING SLUMP IN OUR AREA. Period. No matter which figure related to home sales you look at, the Dothan real estate market is at or near the same levels as last year. And by the way, 2006 was the third consecutive record year for home sales in our market.
I have talked about the exact numbers in previous posts on this web site, so I won?t go into detail again. If you look strictly at the number of homes sold, the numbers for 2007 year-to-date are identical to same period in 2006. If you look at median price, you?ll see an increase of 2.25% this year over last. That is a strong increase even in a booming market!
Sure, there has been a significant increase in homes on the market and a slight increase in days on the market in 2007, but there are still plenty of buyers in the market and interest rates are very affordable. Unless something changes in the Dothan economy, don?t look for a measurable decline in homes for sale any time soon.
When you hear these stories on a national level, just remember that real estate is local, and there is every reason to be excited about the Dothan real estate market!